Jaipur, Sep 22 (PTI) Jaipur-based NBFC Namdev Finvest Ltd has expanded to 10 states, with its branch network rising to nearly 140 from 37 over the past five years, a company official said.
The company’s profit after tax has increased more than five-fold and loan disbursements nearly 11 times during the period, he said.
Founded in 2013, the company focuses on lending to small businesses, self-employed borrowers and customers in Tier II and III markets. Its assets under management have crossed Rs 1,747 crore, with Odisha the latest state added to its operations, Managing Director and CEO Jitendra Tanwar said.
Its portfolio includes loans to small businesses, traders, transport operators and e-rickshaw owners, besides financing electric two- and three-wheelers and rooftop solar installations.
In June, the company converted from a private to a public limited company and received an ICRA rating upgrade to A- (Stable), he said.
The company has raised more than USD 79.5 million in funding, including USD 38 million in debt in early 2025 from Developing World Markets, BlueOrchard and Mirova, Tanwar said.
(PTI News)
